Coinbase could become the first company in the S&P 500, taking bitcoin from the proceeds of private notes products, indicating a further migration from traditional markets to digital assets.
Coinbase, the world’s third largest cryptocurrency exchange, Announce On Tuesday, $2 billion in convertible premium notes for “qualified institutional buyers”, $1 billion worth of notes for 2029 and 2032 should be $1 billion in 2032.
“The notes will be high-end, unsecured obligations and will accumulate a level of interest due to the arrears,” the company said in the company. Register. Interest rate and conversion terms will be determined after final pricing.
Coinbase also plans to grant $150 million in principal in the 2023 notes to initial notes buyers, and another $150 million in the 2032 notes.
The company said it will use the net proceeds from the issuance to cover the fees for capped telephone transactions related to the issuance of notes and general corporate purposes, which may include “working capital, capital expenditures, and acquisitions and acquisitions of other companies, products or Coinbase technologies or technologies that may be determined from time to time.”
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Coinbase is the world’s 10th largest public Bitcoin-holding entity with 11,776 bitcoins (BTC) was worth $1.26 billion at the time of writing, according to Data from BitCoinReasuries.net.
company get In the second quarter of 2025, Bitcoin was worth more than $288 million.
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This is a developing story and will add more information when it is available.
